Investment - Articles - NFU Mutual comments on tax on investments


Commenting on the introduction of a tax free allowance for dividends in today’s Budget, Sean McCann, Chartered Financial Planner at NFU Mutual, said:

     
  1.   New £5,000 tax free allowance for dividends introduced
  2.  
  3.   Anyone with shares should review their tax position
  4.  
  5.   Basic rate taxpayers could face dividend tax bills for the first time
 “A new £5,000 tax free allowance on dividends sounds great but there will be winners and losers. Basic rate taxpayers won’t be any better off. In fact, basic rate taxpayers with more than £5,000 in dividend payments will start paying tax on their dividend income.
  
 “What is clear from today’s announcement is that anyone with stocks and shares should review their investments to make sure they aren’t paying any more tax than they have to.
  
 “From next year, everyone who receives dividend income won't pay tax on the first £5,000. Basic rate taxpayers will pay 7.5% tax on any additional dividend income, higher rate taxpayers will pay 32.5% and additional rate taxpayers 38.1%."

Back to Index


Similar News to this Story

Frozen thresholds will drag 18m into paying income tax
New freedom of information data from HM Revenue and Customs (HMRC), obtained by Quilter, the financial adviser and wealth manager, reveals the freeze
Scottish Friendly appoint Schroders as investment partner
Schroders have announced it has been appointed by Scottish Friendly as its new investment management partner for a £2.1 billion multi-asset and insura
Just Group complete buyin for South East Water Pension
Secures the benefits of around 700 pensioner and dependent members and almost 300 deferred members. Second transaction to complete objective of guaran

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.